There have been a lot of speculations regarding the price of Bitcoin (BTC) these days.
As you know by now, the most important crypto in the market surged a lot, racing towards $15k and then the coin suffered a significant correction.
This triggered various speculations, some of them very positive and bullish and others claiming that we may even see a correction for the price of BTC down to $5,000.
BTC rally could enter a new extension
Now, there’s a new theory that enters the crypto space and it suggests that the BTC rally may be on its way to enter a new extension.
BTC is reportedly trading above its upper Vera band limit, says Bloomberg‘s analysis.
This is an indicator which shows that a breakout could be on its way to the market.
“Bitcoin’s followed a similar trend since mid-February and has breached yearly highs at least once every month since then. The cryptocurrency broke above its upper band limit for the first time this year in early February, for instance, and reached a fresh yearly high shortly afterward.”
More than that, industry insiders are interested in Bitcoin’s latest move.
Important names are about to enter the crypto space, triggering the bulls
According to the online publication the Daily Hodl, the bullish sentiment that has been recently floating in the market highlights the industry’s ability to draw in big names such as facebook and Fidelity which will only strengthen the market.
And needless to highlight this even more, Facebook is gearing up for the launch of its LIbra coin which has been making waves in the crypto space. More expert voices have been saying that Libra will bring massive bulls.